Lifestyle apparel and accessories company Gymshark and its private equity backers are mulling a stock market listing just over twelve months after its £1.0bn valuation.
According to Sky News, Gymshark has been holding preliminary talks with institutional investors and investment banks regarding an initial public offering but has said a decision in whether or not to forge ahead with a listing may still be some time away.
Sky’s sources indicated an announcement may come over the next few months but with the recent performance of London-listed online retailers ASOS, Boohoo, and THG, the environment for digital consumer brands to go public was seen as somewhat underwhelming.
Gymshark was founded in 2012 by Ben Francis in Birmingham and now has customers in more than 130 countries. His controlling stake in the company makes him one of the UK’s wealthiest people under the age of 30.
